Bahl & Gaynor Inc. Has $380.01 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Bahl & Gaynor Inc. reduced its stake in Chevron Corporation by 1.4%, now holding approximately $380.01 million worth of the stock, which accounts for about 1.9% of their total holdings.
• Chemical and oil giant Chevron reported earnings of $1.77 per share for the latest quarter, surpassing analyst expectations, despite a year-over-year revenue decline of 12.4% to $44.82 billion.
• The company declared a quarterly dividend of $1.71, resulting in an annualized dividend of $6.84 and a yield of 4.3%, with a payout ratio of 88.03%.

Bahl & Gaynor Inc. lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,271,537 shares of the oil and gas company's stock after selling 31,511 shares during the quarter. Chevron accounts for about 1.9% of Bahl & Gaynor Inc.'s holdings, making the stock its 14th biggest position. Bahl & Gaynor Inc. owned approximately 0.13% of Chevron worth $380,005,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC increased its stake in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after buying an additional 71 shares during the period. GDS Wealth Management increased its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares during the last quarter. Clayton Financial Group LLC increased its stake in shares of Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 75 shares during the last quarter. Gill Capital Partners LLC increased its stake in shares of Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after purchasing an additional 75 shares during the last quarter. Finally, Cordatus Wealth Management LLC increased its stake in shares of Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock opened at $157.8970 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a fifty day moving average price of $151.21 and a two-hundred day moving average price of $148.66. The company has a market cap of $272.84 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business's revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's dividend payout ratio is 88.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler increased their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $163.95.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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